GENUINE SAVINGS AND SUSTAINABILITY

Nick Hanley, Louis Dupuy and Eoin McLaughlin

Journal of Economic Surveys, 2015, vol. 29, issue 4, 779-806

Abstract: Genuine Savings (GS) has emerged as the leading economic indicator of sustainable economic development at the country level. It derives from the literatures on weak sustainability, wealth accounting and national income accounting. We discuss the theoretical underpinnings of GS, focusing on the relationship between changes in a nation's extended capital stock and the future path of consumption. The indicator has entered widespread use propelled by the World Bank's publications, despite its varying performance as a predictor for future consumption. Notwithstanding the extensive body of literature reviewed, promising future research avenues are identified.

Date: 2015
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Working Paper: Genuine Savings and Sustainability (2014)
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